1 The estate and gift taxes share several common features Wh

1. The estate and gift taxes share several common features. Which of the following characteristics are common to estate and gift taxes?

A. An applicabale dredit and a marital deduction.

B. A charitable deduction and an annual exclusion.

C. A gift-splitting election and a deduction for income taxes paid by the fiduciary.

D. A charitable deduction and the unsued spousal exemption equivalent.

E. All of these choiceis are characteristics common to both the gift and the estate tax.

Solution

The estate and gift taxes share several common features. Which of the following characteristics are common to estate and gift taxes?

Answer: Option A : An applicable unified credit and a martial deduction is common to estate & gift taxes.

The charitable deduction, gift splitting election & annual exclusion are unique.